New Owner for Dunaferr Ironworks

India's Liberty Steel has been selected as the winning bidder in the tender for the Dunaferr iron and steel plant in liquidation in Dunaújváros, central Hungary. The news was announced by the Ministry of Economic Development.

The ministry's statement recalled the steps leading up to the tender and underlined that as the next step in the rescue process, the steel production assets were transferred to new companies (DunaRolling and Duna Furnace Danube Ironworks), which were put up for sale by the liquidator in an open tender procedure. The sale, which closed last Friday, saw a valid winning bid from the Indian company’s Hungarian subsidiary, Liberty Steel Central Europe Ltd., which had already rushed to the rescue of the plant in December at a time when the steel industry worldwide was going through its most difficult period.

According to the Ministry of Economic Development, the government is committed to a green transition that is paramount for the future of the steel industry. “The factory's operations need reorganization, with significant improvements to produce higher value-added products, modern 21st century technology change and green steel,” the statement said.